U.C.C. - ARTICLE 9 - SECURED TRANSACTIONS (2010)

Part 1. General Provisions

[Subpart 1. Short Title, Definitions, and General Concepts]

  • § 9-101. SHORT TITLE.
  • § 9-102. DEFINITIONS AND INDEX OF DEFINITIONS.
  • § 9-103. PURCHASE-MONEY SECURITY INTEREST; APPLICATION OF PAYMENTS; BURDEN OF ESTABLISHING.
  • § 9-104. CONTROL OF DEPOSIT ACCOUNT.
  • § 9-105. CONTROL OF ELECTRONIC CHATTEL PAPER.
  • § 9-106. CONTROL OF INVESTMENT PROPERTY.
  • § 9-107. CONTROL OF LETTER-OF-CREDIT RIGHT.
  • § 9-108. SUFFICIENCY OF DESCRIPTION.

[Subpart 2. Applicability of Article]

Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement

[Subpart 1. Effectiveness and Attachment]

  • § 9-201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT.
  • § 9-202. TITLE TO COLLATERAL IMMATERIAL.
  • § 9-203. ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST; PROCEEDS; SUPPORTING OBLIGATIONS; FORMAL REQUISITES.
  • § 9-204. AFTER-ACQUIRED PROPERTY; FUTURE ADVANCES.
  • § 9-205. USE OR DISPOSITION OF COLLATERAL PERMISSIBLE.
  • § 9-206. SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET.

[Subpart 2. Rights and Duties]

  • § 9-207. RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR CONTROL OF COLLATERAL.
  • § 9-208. ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL.
  • § 9-209. DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT.
  • § 9-210. REQUEST FOR ACCOUNTING; REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF ACCOUNT.

Part 3. Perfection and Priority

[Subpart 1. Law Governing Perfection and Priority]

  • § 9-301. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS.
  • § 9-302. LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS.
  • § 9-303. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY A CERTIFICATE OF TITLE.
  • § 9-304. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS.
  • § 9-305. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
  • § 9-306. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHTS.
  • § 9-307. LOCATION OF DEBTOR.
  • § 9-308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
  • § 9-309. SECURITY INTEREST PERFECTED UPON ATTACHMENT.
  • § 9-310. WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN; SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY.
  • § 9-311. PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN STATUTES, REGULATIONS, AND TREATIES.
  • § 9-312. PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS, DOCUMENTS, GOODS COVERED BY DOCUMENTS, INSTRUMENTS, INVESTMENT PROPERTY, LETTER-OF-CREDIT RIGHTS, AND MONEY; PERFECTION BY PERMISSIVE FILING; TEMPORARY PERFECTION WITHOUT FILING OR TRANSFER OF POSSESSION.
  • § 9-313. WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST WITHOUT FILING.
  • § 9-314. PERFECTION BY CONTROL.
  • § 9-315. SECURED PARTY'S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS.
  • § 9-316. CONTINUED PERFECTION OF SECURITY INTEREST FOLLOWING CHANGE IN GOVERNING LAW.

[Subpart 3. Priority]

  • § 9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF UNPERFECTED SECURITY INTEREST OR AGRICULTURAL LIEN.
  • § 9-318. NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD; RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL PAPER WITH RESPECT TO CREDITORS AND PURCHASERS.
  • § 9-319. RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS.
  • § 9-320. BUYER OF GOODS.
  • § 9-321. LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN ORDINARY COURSE OF BUSINESS.
  • § 9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS ON SAME COLLATERAL.
  • § 9-323. FUTURE ADVANCES.
  • § 9-324. PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS.
  • § 9-325. PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL.
  • § 9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR.
  • § 9-327. PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT.
  • § 9-328. PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY.
  • § 9-329. PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHT.
  • § 9-330. PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT.
  • § 9-331. PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS, AND SECURITIES UNDER OTHER ARTICLES; PRIORITY OF INTERESTS IN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER ARTICLE 8.
  • § 9-332. TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT.
  • § 9-333. PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW.
  • § 9-334. PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS.
  • § 9-335. ACCESSIONS.
  • § 9-336. COMMINGLED GOODS.
  • § 9-337. PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE.
  • § 9-338. PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY FILED FINANCING STATEMENT PROVIDING CERTAIN INCORRECT INFORMATION.
  • § 9-339. PRIORITY SUBJECT TO SUBORDINATION.

[Subpart 4. Rights of Bank]

  • § 9-340. EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT.
  • § 9-341. BANK'S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT.
  • § 9-342. BANK'S RIGHT TO REFUSE TO ENTER INTO OR DISCLOSE EXISTENCE OF CONTROL AGREEMENT.

Part 4. Rights of Third Parties

  • § 9-401. ALIENABILITY OF DEBTOR'S RIGHTS.
  • § 9-402. SECURED PARTY NOT OBLIGATED ON CONTRACT OF DEBTOR OR IN TORT.
  • § 9-403. AGREEMENT NOT TO ASSERT DEFENSES AGAINST ASSIGNEE.
  • § 9-404. RIGHTS ACQUIRED BY ASSIGNEE; CLAIMS AND DEFENSES AGAINST ASSIGNEE.
  • § 9-405. MODIFICATION OF ASSIGNED CONTRACT.
  • § 9-406. DISCHARGE OF ACCOUNT DEBTOR; NOTIFICATION OF ASSIGNMENT; IDENTIFICATION AND PROOF OF ASSIGNMENT; RESTRICTIONS ON ASSIGNMENT OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, AND PROMISSORY NOTES INEFFECTIVE.
  • § 9-407. RESTRICTIONS ON CREATION OR ENFORCEMENT OF SECURITY INTEREST IN LEASEHOLD INTEREST OR IN LESSOR'S RESIDUAL INTEREST.
  • § 9-408. RESTRICTIONS ON ASSIGNMENT OF PROMISSORY NOTES, HEALTH-CARE-INSURANCE RECEIVABLES, AND CERTAIN GENERAL INTANGIBLES INEFFECTIVE.
  • § 9-409. RESTRICTIONS ON ASSIGNMENT OF LETTER-OF-CREDIT RIGHTS INEFFECTIVE.

Part 5. Filing

[Subpart 1. Filing Office; Contents and Effectiveness of Financing Statement]

  • § 9-501. FILING OFFICE.
  • § 9-502. CONTENTS OF FINANCING STATEMENT; RECORD OF MORTGAGE AS FINANCING STATEMENT; TIME OF FILING FINANCING STATEMENT.
  • § 9-503. NAME OF DEBTOR AND SECURED PARTY.
  • § 9-504. INDICATION OF COLLATERAL.
  • § 9-505. FILING AND COMPLIANCE WITH OTHER STATUTES AND TREATIES FOR CONSIGNMENTS, LEASES, OTHER BAILMENTS, AND OTHER TRANSACTIONS.
  • § 9-506. EFFECT OF ERRORS OR OMISSIONS.
  • § 9-507. EFFECT OF CERTAIN EVENTS ON EFFECTIVENESS OF FINANCING STATEMENT.
  • § 9-508. EFFECTIVENESS OF FINANCING STATEMENT IF NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT.
  • § 9-509. PERSONS ENTITLED TO FILE A RECORD.
  • § 9-510. EFFECTIVENESS OF FILED RECORD.
  • § 9-511. SECURED PARTY OF RECORD.
  • § 9-512. AMENDMENT OF FINANCING STATEMENT.
  • § 9-513. TERMINATION STATEMENT.
  • § 9-514. ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD.
  • § 9-515. DURATION AND EFFECTIVENESS OF FINANCING STATEMENT; EFFECT OF LAPSED FINANCING STATEMENT.
  • § 9-516. WHAT CONSTITUTES FILING; EFFECTIVENESS OF FILING.
  • § 9-517. EFFECT OF INDEXING ERRORS.
  • § 9-518. CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD.

[Subpart 2. Duties and Operation of Filing Office]

  • § 9-519. NUMBERING, MAINTAINING, AND INDEXING RECORDS; COMMUNICATING INFORMATION PROVIDED IN RECORDS.
  • § 9-520. ACCEPTANCE AND REFUSAL TO ACCEPT RECORD.
  • § 9-521. UNIFORM FORM OF WRITTEN FINANCING STATEMENT AND AMENDMENT.
  • § 9-522. MAINTENANCE AND DESTRUCTION OF RECORDS.
  • § 9-523. INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS.
  • § 9-524. DELAY BY FILING OFFICE.
  • § 9-525. FEES.
  • § 9-526. FILING-OFFICE RULES.
  • § 9-527. DUTY TO REPORT.

Part 6. Default

[Subpart 1. Default and Enforcement of Security Interest]

  • § 9-601. RIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT; CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER, PAYMENT INTANGIBLES, OR PROMISSORY NOTES.
  • § 9-602. WAIVER AND VARIANCE OF RIGHTS AND DUTIES.
  • § 9-603. AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES.
  • § 9-604. PROCEDURE IF SECURITY AGREEMENT COVERS REAL PROPERTY OR FIXTURES.
  • § 9-605. UNKNOWN DEBTOR OR SECONDARY OBLIGOR.
  • § 9-606. TIME OF DEFAULT FOR AGRICULTURAL LIEN.
  • § 9-607. COLLECTION AND ENFORCEMENT BY SECURED PARTY.
  • § 9-608. APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
  • § 9-609. SECURED PARTY'S RIGHT TO TAKE POSSESSION AFTER DEFAULT.
  • § 9-610. DISPOSITION OF COLLATERAL AFTER DEFAULT.
  • § 9-611. NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
  • § 9-612. TIMELINESS OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL.
  • § 9-613. CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: GENERAL.
  • § 9-614. CONTENTS AND FORM OF NOTIFICATION BEFORE DISPOSITION OF COLLATERAL: CONSUMER-GOODS TRANSACTION.
  • § 9-615. APPLICATION OF PROCEEDS OF DISPOSITION; LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS.
  • § 9-616. EXPLANATION OF CALCULATION OF SURPLUS OR DEFICIENCY.
  • § 9-617. RIGHTS OF TRANSFEREE OF COLLATERAL.
  • § 9-618. RIGHTS AND DUTIES OF CERTAIN SECONDARY OBLIGORS.
  • § 9-619. TRANSFER OF RECORD OR LEGAL TITLE.
  • § 9-620. ACCEPTANCE OF COLLATERAL IN FULL OR PARTIAL SATISFACTION OF OBLIGATION; COMPULSORY DISPOSITION OF COLLATERAL.
  • § 9-621. NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL.
  • § 9-622. EFFECT OF ACCEPTANCE OF COLLATERAL.
  • § 9-623. RIGHT TO REDEEM COLLATERAL.
  • § 9-624. WAIVER.

[Subpart 2. Noncompliance with Article]

  • § 9-625. REMEDIES FOR SECURED PARTY'S FAILURE TO COMPLY WITH ARTICLE.
  • § 9-626. ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE.
  • § 9-627. DETERMINATION OF WHETHER CONDUCT WAS COMMERCIALLY REASONABLE.
  • § 9-628. NONLIABILITY AND LIMITATION ON LIABILITY OF SECURED PARTY; LIABILITY OF SECONDARY OBLIGOR.

Part 7. Transition

  • § 9-701. EFFECTIVE DATE.
  • § 9-702. SAVINGS CLAUSE.
  • § 9-703. SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE.
  • § 9-704. SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE.
  • § 9-705. EFFECTIVENESS OF ACTION TAKEN BEFORE EFFECTIVE DATE.
  • § 9-706. WHEN INITIAL FINANCING STATEMENT SUFFICES TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT.
  • § 9-707. AMENDMENT OF PRE-EFFECTIVE-DATE FINANCING STATEMENT.
  • § 9-708. PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT OR CONTINUATION STATEMENT.
  • § 9-709. PRIORITY.